IFRS®: IAS 2, Inventories; IAS 16, Plant, Property and Equipment; and IAS 23, Borrowing Costs

Gain foundational knowledge of key concepts

Confidently apply IAS 2, Inventories; IAS 16, Property, Plant and Equipment; and IAS 23, Borrowing Costs by understanding the basic principles of these international accounting standards.

You will gain insight into key concepts, including:

• definitions and exclusions,
• measurement methods and cost formulas, and
• the capitalization of borrowing.

Learning this essential information will empower you to work with multinational organizations and better assist clients using international accounting standards.

Prepare for today’s global business environment

Many of the world's largest capital markets require or permit the use of IFRS Standards.

Whatever your location, you could easily find yourself with a client subject to IFRS requirements.

Understanding IFRS requirements will help you better assist clients subject to these standards and enable you to effectively compete in the modern business world.

Realistic scenarios to increase understanding

The interactive learning elements and real-life examples will help you implement the key concepts you learn in this course. The real-world case studies in this course will help you apply IAS 2, IAS 16, and IAS 23 in practice.

This course is part of the IFRS Certificate Program — a comprehensive, integrated curriculum that will give you the foundational training, knowledge, and practical guidance in international accounting standards necessary in today's global business environment.

Who Will Benefit

• Accounting and finance professionals who work for private or public multinational organizations that have adopted IFRS Standards.
• Accountants in public practice who provide audit or assurance services to private or public multinational organizations that have adopted IFRS Standards.

Key Topics

• Inventory definition and exclusions
• Measurement methods and cost formulas
• Write-downs to net realizable value
• Property, plant, and equipment (PPE) definition and exclusions
• PPE recognition and measurement of PPE
• Impairment
• Capitalization of borrowing

Learning Outcomes

• Recall how the initial measurement of inventory assets is determined.
• Identify the cost formulas that are permitted by International Accounting Standard (IAS) 2, Inventories.
• Recall how to calculate the appropriate carrying amount of inventory at the reporting date.
• Recognize the presentation requirements for operations classified as held for sale.
• Determine the initial measurement of an item of property, plant, or equipment (PPE).
• Identify the appropriate accounting treatment to subsequent measurement of PPE.
• Recognize the disclosures required by IAS 16 and IAS 23.